Speaking of cashing out safety, there are too many nuances involved. I am preparing a series of posts on cashing out, after all, everyone made money during the bull market, and safely withdrawing profits to support household expenses is the most practical. If you find this post useful, please follow and like.
Currently, there is no absolute safety in cashing out. The fishing activities of Uncle Hat are no longer industry secrets, especially with problematic funding sources. Even if the funds have gone through four or five levels before reaching your account, as long as there is a connection, Uncle Hat can come knocking. Generally, they won't come to your door, but will freeze your account for a long time, waiting for you to proactively seek unfreezing, after which they will ask you to refund. If Uncle Hat actively comes to find you, the most detailed questions will be about your subjective awareness. Subjective awareness means you knowingly recognize that there is a problem with the funding source, involving gray and black industries, online gambling, fraud, etc. This is not something you can claim ignorance about. If it is determined that you were aware, there is a risk of being taken away. Of course, the big players generally choose to compromise and settle. However, some people opt to resist, and then it becomes important to see if your method of cashing out involves subjective awareness; everyone can identify with this.
One, find strangers to cash out (online or offline, subjective awareness)
In the absence of a foundation of trust with the other party, deliberately avoiding established virtual currency trading platforms, using covert software for communication, and meeting at hidden locations to receive payments, and then converting the received funds into virtual currency for the other party's account, goes against ordinary trading practices and can be deemed as knowingly suspicious.
Two, cashing out with acquaintances above market price
If the market price of U is around 7.25, and you find someone you know to cash out at a price of 7.35, this is clearly different from the market trading model. Engaging in virtual currency transactions at such prices without a reasonable explanation for the aforementioned abnormal behavior can be deemed suspicious.
Three, electronic information
When you cash out on an exchange, actively ask the merchant whether this money is safe and whether it involves dirty money. Regardless of the merchant's response, if there is a problem with this money, your chat records can prove that you knew this money might have come from an improper source. Even if your subjective intent was to avoid receiving dirty money, if something goes wrong with the funds, Uncle Hat just needs to prove that you subjectively knew that there might be an issue with this money. Therefore, excessive questioning is equivalent to digging a pit for yourself.
Four, small transfers before cashing out (very important)
Just before cashing out, many friends habitually use their receiving bank cards for small transfers to test the normal functionality of their bank cards or accounts, commonly known as card testing. This has also been used in court as evidence of subjective awareness. So do not test cards! Do not test cards! Do not test cards!
Five, immediately withdraw cash and deposit it into another bank card after cashing out.
Generally speaking, friends in the cryptocurrency circle have dedicated cards for cashing out, with other bank cards used for daily consumption, salary deposits, savings, etc. Some brothers directly withdraw cash immediately after cashing out and deposit it into another bank card, which also clearly indicates subjective awareness of the risks involved in cashing out.
Alright, that's enough for the first issue. Everyone should identify with these points; when cashing out, avoid behaviors mentioned above to prevent significant losses. If you find this useful, please like and follow. Thank you! More useful content coming soon.
